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27 <br /> 5. Break(to allow Budget staff to formulate the Draft Resolution of Intent to Adopt FY 2025- <br /> 26 Operating Budget) <br /> A motion was made by Chair Bedford, seconded by Commissioner Fowler, to recess the <br /> meeting for 15 minutes. <br /> VOTE: UNANIMOUS <br /> A motion was made by Chair Bedford, seconded by Commissioner Fowler, to reconvene <br /> the meeting at 9:15 p.m. <br /> VOTE: UNANIMOUS <br /> 6. Resolution of Intent to Adopt the FY 2025-26 Orange County Budget <br /> • Approval of Resolution of Intent to Adopt FY 2025-26 Annual Operating Budget at the <br /> Board of County Commissioners' Business Meeting on June 17, 2025 <br /> Kirk Vaughn, Budget Director, reviewed the following resolution: <br /> Resolution of Intent to Adopt the FY2025-26 <br /> Orange County Budget <br /> The items outlined below summarize decisions that the Board acted upon June 5, 2025 in <br /> approving the FY2025-26 Orange County Annual Operating Budget and the FY2025-26 (Year 1) <br /> Capital Investment Plan Budget. <br /> WHEREAS, the Orange County Board of Commissioners has considered the Orange County <br /> FY2025-26 Manager's Recommended Budget and the FY2025-26 Manager's Recommended <br /> Capital Investment Plan Budget; and <br /> WHEREAS, the Commissioners have agreed on certain modifications to the Manager's <br /> Recommended Budget as presented in the FY2025-26 County Manager's Recommended <br /> Budget on May 6, 2025; and to the FY2025-26 Manager's Recommended Capital Investment <br /> Plan Budget as presented on April 1, 2025; <br /> NOW THEREFORE BE IT RESOLVED, that the Orange County Board of Commissioners <br /> expresses its intent to adopt the FY2025-26 Orange County Budget Ordinance on Tuesday, <br /> June 17, 2025, based on the following stipulations: <br /> 1) Property Tax Rates <br /> a) The ad valorem property tax rate shall be set at 63.83 cents per$100 of assessed <br /> valuation. <br /> b) The Chapel Hill-Carrboro City Schools District Tax shall be set at 14.79 cents per <br /> $100 of assessed valuation. <br /> c) The Fire District and Fire Service District tax rates shall be set at the following rates <br /> (all rates are based on cents per $100 of assessed valuation): <br />